Mike Rinder - Scientology: The Motel 6 of 501(c)3s
I'd like to reiterate an observation that Mike has made in other posts concerning Scientology real estate. As I recall, Mike has previously explained that: (1) attorney Monique Yingling has constantly pressured DM and the Church of Scientology concerning the IRS rule against a 501(c)(3) non-profit church accumulating an excessive amount of money; and (2) a loophole to that rule is that a church can properly "spend" money on facilities to provide religious services to parishioners, thus retaining the value of the real estate.
Notice also that the below post concerns two different new religious housing facilities in Los Angeles.
Mike Rinder - Scientology: The Motel 6 of 501(c)3s
http://ift.tt/1LMBwVw
* * * * * BEGIN EXCERPT * * * * *
[SNIP]
But the desperation to invest in more and more real estate is becoming laughable. CC Int is already a HOTEL that is rarely, if ever, full. So, bright idea, invest in a hotel next to it… The Oak Cove in Clearwater is now an empty shell — there is so much hotel space available at Flag between the Ft Harrison, Oak Cove, Sandcastle, Osceola, Mariner, Yachtsman and a few others they could bring every scientologist in the US to Clearwater and they probably still couldn’t fill all the rooms.
[SNIP]
But unless you fork over some cash in advance, they won’t leave the light on for you.
* * * * * END EXCERPT * * * * *
Mike Rinder - Scientology: The Motel 6 of 501(c)3s
I'd like to reiterate an observation that Mike has made in other posts concerning Scientology real estate. As I recall, Mike has previously explained that: (1) attorney Monique Yingling has constantly pressured DM and the Church of Scientology concerning the IRS rule against a 501(c)(3) non-profit church accumulating an excessive amount of money; and (2) a loophole to that rule is that a church can properly "spend" money on facilities to provide religious services to parishioners, thus retaining the value of the real estate.
Notice also that the below post concerns two different new religious housing facilities in Los Angeles.
Mike Rinder - Scientology: The Motel 6 of 501(c)3s
http://ift.tt/1LMBwVw
* * * * * BEGIN EXCERPT * * * * *
[SNIP]
But the desperation to invest in more and more real estate is becoming laughable. CC Int is already a HOTEL that is rarely, if ever, full. So, bright idea, invest in a hotel next to it… The Oak Cove in Clearwater is now an empty shell — there is so much hotel space available at Flag between the Ft Harrison, Oak Cove, Sandcastle, Osceola, Mariner, Yachtsman and a few others they could bring every scientologist in the US to Clearwater and they probably still couldn’t fill all the rooms.
[SNIP]
But unless you fork over some cash in advance, they won’t leave the light on for you.
* * * * * END EXCERPT * * * * *
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